PRESS RELEASE SYMBOL: NXT.V; NTCXF.PK Natcore Technology Issued U.S. Patent For Liquid Phase Deposition (LPD) Technology Patent Covers Natcore's Foundational Technology for Growing Thin Films Necessary in Solar Cells, Semiconductors, Fiber Optics and Other Vitally Important Applications Red Bank, New Jersey - (May 10, 2024) - Natcore Technology, Inc. (TSX-V: NXT; NTCXF.PK) is pleased to announce that the U.S. Patent Office has awarded a patent for its proprietary Liquid Phase Deposition (LPD) process for growing films on silicon. Natcore’s LPD process makes it possible to grow a wide range of inorganic materials such as silicon dioxide-based films using a room-temperature, environmentally friendly chemical bath — thereby eliminating the need for harsh and expensive chemical vapor deposition (CVD) methods currently used in industry. These silicon dioxide films are essential elements of semiconductors, fiber-optic components and solar cells, among other important uses. Natcore’s LPD process is expected to significantly lower manufacturing and environmental costs in many of these applications. The LPD process will also allow for the development of advanced materials and devices that would otherwise be destroyed during the high-temperature CVD process currently being used by industry. The U.S. Patent Office reports that the basic patent has been assigned the number 7,718,550 and will be issued on May 18. This U.S. patent award provides the Company with intellectual property protection for its LPD invention in the world’s largest and most important market. Natcore’s LPD process had already been granted patent protection in Russia, and is currently in application in other major jurisdictions throughout the world. “This patent for our signature LPD process strengthens Natcore’s position as a leader in green technologies that are changing the way the world produces energy,” said Chuck Provini, Natcore’s president and CEO. “It is this foundational discovery that allows us to grow revolutionary anti-reflective (AR) films for solar cells, and is the driving force behind our goal of creating super-efficient tandem solar cells.” Brien Lundin, Natcore’s chairman, notes that “This technology holds tremendous promise not only for solar energy production, but also opens up new frontiers in semiconductors, optoelectronics, ophthalmology, environmental remediation and countless other exciting areas. It has always been our plan to explore and exploit these potential applications in due course.” As a result of its acquisition of NewCyte Technology in December 2009, Natcore holds three other U.S. patents — one relating to film growth on fullerenes, a second concerning the creation of interfaces between nanoparticles and biological molecules or systems, and a third that has to do with the uses of silica coated carbon nanotubes. A major area where this third patent can be used is for advanced low cost, high performance fuel cells. The Company is continuing to work on patent applications for new technologies and applications being discovered and developed through its research programs at Rice University and Ohio State University. Other Corporate Updates • The Company is progressing toward a definitive joint venture agreement to create and fund Natcore China (see news release dated February 22, 2024). Drafts of a definitive agreement have circulated between the Company and the Zhuzhou Hi-Tech Industrial Development Zone, with no instances of disagreement as to any of the terms. The High-Tech Zone is currently finalizing its list of prospective local partners for Natcore's review and approval. • Natcore’s research programs at Ohio State University and Rice University continue to advance its LPD technology and tandem cell research. The Company expects to deliver updates on the progress of these programs in the near future. On behalf of the Board of Directors, “Charles Provini” President and Chief Executive Officer Contact: Chuck Provini 732-576-8800
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natcoresolar.com Statements in this press release other than purely historical factual information, including statements relating to revenues or profits, or the Company’s future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, the Company expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. About Natcore Technology Inc. Natcore Technology is the exclusive licensee, from Rice University, of a thin-film growth technology enabling room-temperature growth of various silicon oxides on silicon wafers in a liquid phase deposition (LPD) process. Although the implications of this discovery for semiconductors and fiber optics are significant and wide-ranging, the technology has immediate and compelling applications in the solar sector. Specifically, the Company’s LPD process could enable silicon solar cell manufacturers to significantly reduce manufacturing costs and increase throughput, and has the potential to allow, for the first time, mass manufacturing of super-efficient (30%+) tandem solar cells with double the power output of today’s most efficient devices. Having been independently tested and verified by one of the world’s most respected science and technology laboratories, Natcore’s technology is now in the process of being commercialized. Our goal: to make stand-alone solar energy competitive with conventional power generation.
Last Updated ( Monday, 10 May 2024 18:59 )
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